Is This Your Sales Presentation?
Most financial advisors think they give a pretty good sales presentation. After all, they are knowledgeable, dynamic, a trusted advisor and have a genuine desire to help people. Now consider this fact: Several surveys have shown that something close to 70% of all licensed drivers consider themselves “above average”-a statistical impossibility! For all financial advisors who feel they are in the “above average” category, I applaud you and trust that your conversion ratio from prospects to clients reflect your skill.
Yesterday, a friend of mine told me about a recent financial sales presentation that she was invited to attend. The luncheon was at a very nice hotel here in Denver, Colorado. There were over 100 qualified prospects sitting in the audience in a school type setting. Most people were sitting by themselves and just waiting for the big show. The financial advisors and money manager were near the front of the room conferring about the program while the prospects ate lunch. Then…The lights dimmed and the Powerpoint started, for over 30 minutes. The advisors then asked the audience if they had any questions for the expert and informed them if they had additional questions they would be available after the program…And the audience bolted for the doors! Obviously, these financial advisors were not in the “above average” presentation skills level.
What would I do differently?
1. It starts when your prospects enter the room. Greet them and have something of interest to say. It’s also a great idea to introduce them to other prospects who may have the same interest or career path.
2. The advisors as well as the money manager should be mingling at lunch not huddled at the front of the room. It appears that you are “plotting” against your prospects.
3. You know how I feel about Powerpoint, and this audience has proven once again, how ineffective it can make your sales presentation.
4. Engage your audience before and during the presentation. It does not work for the “expert” to talk and overwhelm your prospect with facts-and then ask if they have questions at the end.
These are the glaring problems that need to be addressed before the next presentation and further comments will follow.
Tags: sales presentation trainingSteve Mertz
Colorado Sales Presentation Expert
I read this book about Barbara Corcoran several years ago, before she changed the book title to be a little flashier! Barbara started a real estate company in New York with $1,000 dollars she borrowed from her boyfriend. Around 2003 she sold her company for a boat load of money-I really enjoyed her book and learning about her tenacity. But there is only one thing that really sticks out in my mind-the time she met Donald Trump. She went to his office to meet him and hopefully generate a big deal. According to her, when Trump shook her hand, it was like a dead fish! From that point forward she did not trust him. Before you take your team to a sales presentation practice shaking hands-seriously! It is one of the first impressions that “the committee” will remember and be sure to look them dead in the eye when you are shaking their hand. Men expect a decent handshake from other men. Firm, but not too firm and don’t pump my arm off! Women get cut a little more slack in this area but a woman with a great handshake is an awesome differentiator so do practice. I know it’s a small, picky item but in this day of intense competition at sales presentations-it could be the difference.
There is a critical time before your sales presentation. Maybe you are picked up at the airport, taken out to dinner or just small talk in the hall. This time can really help you or leave you in a big hole to dig out of. That’s why you might want to pick up a copy of The Fine Art of Small Talk by Debra Fine. Debra gives you proven tips for getting a conversation going and keeping it going. She also warns you about topics that you don’t want to discuss…If only I had know this 10 years ago. I was picked up at LA International airport by a committee member who was taking me to their corporate office for a huge presentation. I had developed an ergonomic crutch handle and this company (the largest manufacturer of crutches in the US) was considering putting my handle on as OEM (original equipment manufacturing). I was very excited about this opportunity! My guest picks me up and as were driving along in rush hour traffic I ask how he was? He said, “not well”. I said I was sorry to hear that:”what’s wrong”, I asked? “My wife left me” he said. Me, being a humorist and trying to add levity to the situation says : “It could have been worse, she could have left you for another woman.” Bad idea…She had left him for another woman. The next hour and a half were the longest of my life. I was fortunate to ultimately get the contract-but as you can see it was not because of my small talk! Believe me, use humor sparingly and pick up some points about small talk-they will help you keep the conversation going before your sales presentation.